The Kingsey Falls site becomes one of the first power stations in Québec to supply electricity to the Hydro-Québec grid.
Hydro-Québec issues a limited request for proposals (APR-91), to private producers to meet its power requirements. Cascades responds, which leads to development of its energy segment. The following years were marked by an active development of our expertise in hydroelectricity.
Through its subsidiary Cascades Énergie, Cascades acquires through a reverse takeover an 82.5% interest in Boralex, a joint company founded in 1982 by a group of businessmen.
Even after joining the Cascades Group, Boralex keeps its name, derived from the names of the three companies of origin : LaduBOR, ALbany Oil and EXar.
Boralex now has five hydroelectric power stations and one natural gas cogeneration plant, all in Québec, with a total installed capacity of 50.5 MW.
To support its growth and take on new projects, Boralex issues its first public share offering to finalize several acquisitions and strengthen its financial position. Cascades' interest in Boralex decreases to 71%.
Boralex ends the year with an asset portfolio of 11 power stations with a total installed capacity of 62 MW.
Boralex gains its first foothold in France with the acquisition of La Rochette hydroelectric power station.
Another first: Boralex moves into the wood-residue thermal energy market with the acquisition of the Stratton power station in Maine, USA; other thermal power stations will be acquired in subsequent years.
In January and June, Boralex proceeds with two public share issues for a total of $73 million, reducing Cascades' interest in the Corporation from 71% to 40%.
By the end of 2001, Boralex looks like this: 200 employees, 18 power stations in Québec, the United States and France, a total installed capacity of close to 350 MW, with electricity being generated by hydroelectric, thermal and gas- and wood-residue-fired cogeneration power stations.
To meet financial obligations and achieve profitable growth, in 2002 Boralex creates the Boralex Power Income Fund, which it manages and in which it holds a 34% interest. The Boralex Power Income Fund has five hydroelectric power stations, one natural-gas cogeneration plan and two wood-residue thermal power stations, all in Québec, with a total installed capacity of close to 131 MW.
In November, Boralex takes its first steps in wind power generation, starting up its first wind farm in Avignonet-Lauragais in France. This diversifies its sources of generation and allows it to further its development in France.
Boralex acquires five new hydroelectric power stations in New York, USA, with a combined installed capacity of 23 MW. Boralex now has a total installed capacity of 240 MW.
Following these acquisitions and a new issue of trust units by the Fund, Boralex's interest in the Boralex Power Income Fund decreases to 23%. As at December 31, 2003, Cascades' interest in Boralex stands at 43%.
These transactions make it possible to purchase three wood-residue thermal power stations in Maine and to consolidate Boralex's presence in the northeastern United States.
Boralex triples its installed capacity in wind power by starting up new wind farms. This includes the biggest wind farm in France at that time, at Ally-Mercoeur (39 MW - 26 wind turbines). This brings Boralex's total installed capacity in wind power in France to 89 MW.
Boralex continues to develop and geographically diversify its wind power segment. In July, it starts up its seventh wind farm, La Citadelle (14 MW), in France.
Following another share issue, Boralex consolidates its financial position and Cascades’ interest in Boralex drops to 34%.
With the wind in its sails, Boralex continues to expand in the wind power market with developments in Canada.
The consortium of Boralex and Gaz Métro Limited Partnership, with the assistance of the Séminaire de Québec, is awarded two of the three wind power projects submitted in response to Hydro-Québec's call for proposals for 2,000 MW. The Seigneurie de Beaupré Wind Farms will have a total installed capacity of 272 MW and will start operating in 2013.
Boralex then strengthens its presence by acquiring the rights to nine wind farms in Ontario. Thames River site, which will have an installed capacity of 90 MW, will be built in two phases.
Early in the year, Boralex purchases a power station in Ocean Falls in northern British Columbia, with an installed capacity of 14 MW.
In December, Boralex announces the signing of a new European partnership which gives Cube Infrastructure Fund ("CUBE") direct involvement in Boralex’s European corporate structure.
In Canada, Boralex puts into service Phase I of the Thames River site in Ontario, marking the Corporation’s first 40 MW of wind power in Canada. In France, Boralex also starts up an additional 5 MW at the Cham Longe II site in the Massif Central.
In October, with its European partner CUBE, Boralex puts into operation three new wind farms in France, Ronchois, Chasse-Marée and Le Grand Camp, for a total installed capacity of 50 MW. This brings Boralex’s total installed capacity to 170 MW in the wind power segment in France.
Boralex and Gaz Métro|Valener acquire a third wind power project of 69 MW which will be built on the Seigneurie de Beaupré site.
Boralex also, in partnership with the RCM of La Côte-de-Beaupré and of Témiscouata wins two community wind power projects of 24 MW each under a Hydro-Québec call for proposals for 250 MW of community wind power.
Plus, in November 2010 the Boralex Power Income Fund is reintegrated into the Boralex portfolio through Boralex’s purchase of all trust units of the Fund. Boralex now has 41 sites in operation, with a total installed capacity of 650 MW.
In June, the consortium of Boralex and Gaz Métro-Valener conducts the ground-breaking ceremony for . This marks the start of construction of phase I with an installed capacity of 272 MW. Construction will continue into 2013.
Also in June, Boralex inaugurates its first solar park at Avignonet-Lauragais (13 MW) in the Midi-Pyrénées region in France, with an installed capacity of 5 MW. Located on Boralex’s Avignonet-Lauragais wind power site, it is the first mixed generation site in France.
Boralex wrapped up the year by selling 186 MW of thermal power assets in the USA, redefining its profile and positioning. Upon completion of all transactions, Boralex’s portfolio consists of 251 MW of wind power, 136 MW of hydroelectric power, 80 MW of thermal power and 5 MW of solar power, with close to another 400 MW being developed alone or with partners.
In 2012, Boralex transitioned away from thermal assets to acquire wind and hydroelectric power assets covered by long‑term contracts, including a 52 MW wind power project in Témiscouata, Québec, five wind power projects totalling 123 MW in France, as well as a 22 MW hydroelectric project in British Columbia.
Boralex makes new strides in its wind power development with the commissioning of the Vron and La Vallée wind power projects in France, as well as the 272 MW Phase 1 of the Seigneurie de Beaupré Wind Farms, developed with Gaz Métro|Valener, in Canada. With these new facilities, the Corporation expands its assets in operation to 650 MW from 500 MW.
Year 2014 is punctuated with the acquisition of 14 MW Calmont wind project in France and with several commissioning that enhanced (boosted) Boralex’s operating power, including hydroelectric site Jamie Creek (22 MW) and wind sites Fortel-Bonnières (23 MW), Phase II of Seigneurie de Beaupré Wind Farms (68 MW) and Témiscouata I (24 MW).
Moreover, the year ended with the significant acquisition of Enel Green Power France, including, mainly in wind power, 186 MW in operation, 10 MW under construction and a pipeline project of 310 MW. With this acquisition Boralex ranks first among independent wind producers in France, in addition to increasing its installed capacity by 25% or 940 MW.
Boralex creates a joint venture with AWEC to develop the Alberta and Saskatchewan markets.
Boralex is chosen by the Innu Nation of Quebec to develop and build a 200 MW wind project.
First steps of Boralex in Scotland by an acquisition of a European pipeline of wind projects.
Boralex closes the purchase of the 230 MW Niagara Region Wind Farm, the largest acquisition of its history. Located in Ontario, this facility increases the Corporation’s installed capactiy by 21%.
Caisse de dépôt et placement du Québec acquires all of the shares of Boralex held by Cascades Inc. representing 17.3% of the outstanding shares, becoming Boralex’s main shareholder.